Thanks to the launch of four 5-year economic development plans, the Korea economy has achieved dramatic growth through industrialization. By the end of the 1970s, there was a nationwide consensus for the promotion of small and medium enterprises to achieve sustainable growth and development, built on an upgraded industrial structure. As a result, the Small and Medium Enterprises Promotion Act was enacted. Per the Act, the Small &medium Business Corporation (SBC) was founded in January 1979 to implement assistance policies for small&medium enterprises. SBC was founded as a special corporation and implements an extensive range of programs, such as the policy funds financing project, consulting, training, overseas marketing, and support for small and medium enterprises penetrating overseas markets. When the SBC was first established, most SMEs found financing through the banking industry. However, there were many that could not obtain financing, due to the lack of collaterals or performance-based evaluations. (The rest omitted)